ProchargedMopar's Trading Trilogy

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MightyOne
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Postby MightyOne » Tue May 12, 2009 5:27 pm

Some people believe that they should lose because they have never known success.
When these people see a profit they begin to panic because it contradicts the belief that they should lose.

"If I thought that I should lose then I wouldn't be placing the trades" -Old Trading buddy (you know who you are).

This damaging mind set is not limited to individual trades.

When/if their accounts start growing this also contradicts the belief that they should lose and the more they win the more they feel they should lose until slowly/quickly the accounts starts to decline until they reach their starting balance at which point they become sober again having been relieved from the psychological stress of profitability (your welcome :wink:)

You are winning unless you lose, but next trade you are winning!

When you see profit it is completely normal because YOU SHOULD BE WINNING!

If your heart beats faster before, after, or during a trade then YOU ARE RISKING TOO MUCH!

It seems that somebody has forgotten the mantra...



prochargedmopar wrote:I broke it. What now?

I'm not sure if I like this scaling into trades, yet. I don't feel like I'm risking as much which I think made me feel a little lax when going into draw down. Also putting in feelers I was not as selective.
Makes it much harder to enter trades that are winners because I"m thinking that it's already maxed out and is about to reverse and wipe out any profit made with the 1 or 2 that are in the trade.
Hmmmmmmmmmmmm

More rules have complicated matters when I still can't follow the few that are in the psych line trading plan.

-50.5\3 = -16.83
Balances: -325.99 -85.62 = -411.61
-8.9%

Got to chatting with dad a broke a few more rules by going LONG against D1 and H1. I even did the dasterdly deed of moving my stop. See the 23.x stop out.
Looky here!!!!!!!!!!

-92.1\3 = -30.7 or -85.62
I fixed total balance above.
Here are the trades.

10956020 EUR/JPY 9 B 131.786 131.604 -18.2 -16.96 0.00 5/12/2009 10:08 5/12/2009 10:14
10955765 EUR/JPY 9 B 131.913 131.679 -23.4 -21.81 0.00 5/12/2009 10:06 5/12/2009 10:11
10953835 EUR/JPY 9 S 132.076 131.944 13.2 12.30 0.00 5/12/2009 09:39 5/12/2009 09:39
10953706 EUR/JPY 9 S 132.123 132.116 0.7 0.65 0.00 5/12/2009 09:37 5/12/2009 09:39
10953763 EUR/JPY 9 S 132.106 132.116 -1 -0.93 0.00 5/12/2009 09:38 5/12/2009 09:39
10953731 EUR/JPY 9 B 132.142 132.123 -1.9 -1.77 0.00 5/12/2009 09:37 5/12/2009 09:38
10953572 EUR/JPY 9 B 132.356 132.194 -16.2 -15.08 0.00 5/12/2009 09:35 5/12/2009 09:37
10953428 EUR/JPY 9 B 132.505 132.343 -16.2 -15.07 0.00 5/12/2009 09:32 5/12/2009 09:34
10953215 EUR/JPY 9 B 132.441 132.462 2.1 1.95 0.00 5/12/2009 09:31 5/12/2009 09:31
10953082 EUR/JPY 9 S 132.505 132.497 0.8 0.74 0.00 5/12/2009 09:28 5/12/2009 09:28
10952974 EUR/JPY 9 S 132.513 132.446 6.7 6.22 0.00 5/12/2009 09:26 5/12/2009 09:26
10950616 EUR/JPY 9 S 132.643 132.483 16 14.83 0.00 5/12/2009 08:51 5/12/2009 09:21
10952070 EUR/JPY 9 S 132.565 132.483 8.2 7.60 0.00 5/12/2009 09:09 5/12/2009 09:21
10950617 EUR/JPY 9 S 132.618 132.771 -15.3 -14.17 0.00 5/12/2009 08:51 5/12/2009 08:53
10950236 EUR/JPY 9 B 132.736 132.668 -6.8 -6.30 0.00 5/12/2009 08:46 5/12/2009 08:51
10950073 EUR/JPY 9 S 132.698 132.745 -4.7 -4.36 0.00 5/12/2009 08:43 5/12/2009 08:46
10950004 EUR/JPY 9 B 132.745 132.643 -10.2 -9.46 0.00 5/12/2009 08:42 5/12/2009 08:43
10949698 EUR/JPY 9 S 132.603 132.606 -0.3 -0.28 0.00 5/12/2009 08:38 5/12/2009 08:38
10948359 EUR/JPY 9 S 132.796 132.697 9.9 9.18 0.00 5/12/2009 08:21 5/12/2009 08:28
10948386 EUR/JPY 9 S 132.756 132.697 5.9 5.47 0.00 5/12/2009 08:22 5/12/2009 08:28
10947525 EUR/JPY 9 B 132.985 132.823 -16.2 -15.01 0.00 5/12/2009 08:03 5/12/2009 08:05
10947094 EUR/JPY 9 S 132.820 132.935 -11.5 -10.66 0.00 5/12/2009 07:58 5/12/2009 07:59
10946943 EUR/JPY 9 S 132.798 132.935 -13.7 -12.70 0.00 5/12/2009 07:56 5/12/2009 07:59
Total 207 -92.1 -85.62 0.00

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Postby prochargedmopar » Tue May 12, 2009 10:56 pm

Every time I've felt like this in the past I have followed it with greater success. It gets me focused.

Negative feedback systems use that information to hit their target.

There is a seed of success in every failure.
Today I failed, tomorrow I will use that to succeed. Success will eventually become habit, and define who I am.

I love anger, it is the most powerful emotion we have when directed in a meaningful and positive manner.
I'm angry.
I'm happy.

Day after day of successes. One day does not define the entire process.

I CAN WIN THIS TRADE
I SHOULD WIN THIS TRADE
I'M MAKING IT HAPPEN RIGHT NOW

EDIT:
Looks like mp woke up because my post on stockhideout is gone.
Last edited by prochargedmopar on Wed May 13, 2009 3:00 pm, edited 1 time in total.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby razorboy » Wed May 13, 2009 1:01 am

I am only using half positions, so the impact on my account is about 25 pips

What I have found is that the volatility around the horizontal lines is quite high - regardless of whether i trade with H1or D1. The other thing I noticed about myself is that when I kill trades that are not immediately right, I find myself killing them too early and way overtrading, so I have had to change my definition of what I consider "immediately right" and limited the number of trades i take per hour to one (with two positions)

so I am ratcheting down the risk per position and limiting my trades

MightyOne wrote:"I know that MO often preaches about putting on 3 units from the start and then gradual exiting with profit - then using the profit to build your SL, but I found I kept stopping out on the initial 3 units" -Razorboy

I assume from your gravitation toward a 45 SL that you are getting stopped out often on your small stops.

It helps to understand why you are using the MM that you are using instead of playing with this or that until some thing seems to work.

When you are using a 45 SL and trading in the direction of the trend you are saying that the market did not and should not retrace 45 pips from the low when taking this short.

You are saying that a move greater than 45 pips is not a correction.

When you are using a 45 SL and trading the reversal then you are saying that the market: retraced 45 pips from the low, corrected less than 45 pips, and hit your horizontal to go long.

You are saying that a move greater than 45 pips is not a correction.

Now reread replacing the 45 SL with a 15 pip SL...

Notice how you arrive at the most powerful chart formation; the 1-2-3.




razorboy wrote:As far as scaling in goes, I have been using the horizontal lines as well - using the psych lines that are above and below the current price
-
In a situation where I want to go short,

Typically my first entry is a limit entry at a psych line with a 15 pip SL and my second is is a market with a 40 pip stop loss - total SL on the position is 55/2 = 27.5 pips, which I gradually reduce as price moves my way - meaning I start to see some good profit on my second position - usually by the time my second position is up to 25 points in profit, the SL on my first position would lock in 25 pips of profit and the SL on the second position would be moved to -25 from -42

If price hits my limit order (but not my market) and reverses, I will open up my SL to the 42 and enter a sell limit order with a 17 pip SL at the next higher psych line.

If price hits both my limit and market order and reverses - I kill the whole thing at the -27.5 - the worst damage I can do to my self. Given the dynamics of the market, I don't see how I can keep my initial risk below this level

I know that MO often preaches about putting on 3 units from the start and then gradual exiting with profit - then using the profit to build your SL, but I found I kept stopping out on the initial 3 units

I have found spreading things out like this typically gives me two shots to enter a trade, except where things go 100% wrong

prochargedmopar wrote:New Goal.
Break Even on all accounts combined.

MBTrading - +/- 0.0 Bal. $800.00
FXCM +$144.97 Bal. $994.47
FXDD -$525.30 Bal. 824.70
Total to B/E -$380.33

New technique will be applied.
Still risking 5% overall with a 20 pip stop but I will apply M.O.'s description of scaling in.
1/3 at a time instead of the 1/5.

I will be using a $2.40 full postition tomorrow so I will break it down to .80 each. When calculating Total pips gained I will have to divide by 3.
Example: 3 entries (if trigger finger doesn't freeze over, LOL) would be 60 pips with an actual 20 pip full postition gain compared to if I were to go All in at once.
If all three were to hit stops I would show -60 pips but actually be -20 compared to an all in postition.

Hopefully I'll judge better how things are going and won't miss out on to many pips. Losses will be less painful and I may even stack a couple extra on if things are going really well.
Be interesting.

For some reason I'm having psychological issues with this and I think it comes from greed/fear of missing out. Looking at it realistically I should be feeling MORE comfortable because I'm putting less on the line at first entry.
Not sure what's going on upstairs.

It'll be Me, My Mirror, and the Market.
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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Postby MightyOne » Wed May 13, 2009 6:06 am

There is an answer to every problem :shock: a slight adjustment that makes every thing golden.

razorboy wrote:I am only using half positions, so the impact on my account is about 25 pips

What I have found is that the volatility around the horizontal lines is quite high - regardless of whether i trade with H1or D1. The other thing I noticed about myself is that when I kill trades that are not immediately right, I find myself killing them too early and way overtrading, so I have had to change my definition of what I consider "immediately right" and limited the number of trades i take per hour to one (with two positions)

so I am ratcheting down the risk per position and limiting my trades

MightyOne wrote:"I know that MO often preaches about putting on 3 units from the start and then gradual exiting with profit - then using the profit to build your SL, but I found I kept stopping out on the initial 3 units" -Razorboy

I assume from your gravitation toward a 45 SL that you are getting stopped out often on your small stops.

It helps to understand why you are using the MM that you are using instead of playing with this or that until some thing seems to work.

When you are using a 45 SL and trading in the direction of the trend you are saying that the market did not and should not retrace 45 pips from the low when taking this short.

You are saying that a move greater than 45 pips is not a correction.

When you are using a 45 SL and trading the reversal then you are saying that the market: retraced 45 pips from the low, corrected less than 45 pips, and hit your horizontal to go long.

You are saying that a move greater than 45 pips is not a correction.

Now reread replacing the 45 SL with a 15 pip SL...

Notice how you arrive at the most powerful chart formation; the 1-2-3.




razorboy wrote:As far as scaling in goes, I have been using the horizontal lines as well - using the psych lines that are above and below the current price
-
In a situation where I want to go short,

Typically my first entry is a limit entry at a psych line with a 15 pip SL and my second is is a market with a 40 pip stop loss - total SL on the position is 55/2 = 27.5 pips, which I gradually reduce as price moves my way - meaning I start to see some good profit on my second position - usually by the time my second position is up to 25 points in profit, the SL on my first position would lock in 25 pips of profit and the SL on the second position would be moved to -25 from -42

If price hits my limit order (but not my market) and reverses, I will open up my SL to the 42 and enter a sell limit order with a 17 pip SL at the next higher psych line.

If price hits both my limit and market order and reverses - I kill the whole thing at the -27.5 - the worst damage I can do to my self. Given the dynamics of the market, I don't see how I can keep my initial risk below this level

I know that MO often preaches about putting on 3 units from the start and then gradual exiting with profit - then using the profit to build your SL, but I found I kept stopping out on the initial 3 units

I have found spreading things out like this typically gives me two shots to enter a trade, except where things go 100% wrong

prochargedmopar wrote:New Goal.
Break Even on all accounts combined.

MBTrading - +/- 0.0 Bal. $800.00
FXCM +$144.97 Bal. $994.47
FXDD -$525.30 Bal. 824.70
Total to B/E -$380.33

New technique will be applied.
Still risking 5% overall with a 20 pip stop but I will apply M.O.'s description of scaling in.
1/3 at a time instead of the 1/5.

I will be using a $2.40 full postition tomorrow so I will break it down to .80 each. When calculating Total pips gained I will have to divide by 3.
Example: 3 entries (if trigger finger doesn't freeze over, LOL) would be 60 pips with an actual 20 pip full postition gain compared to if I were to go All in at once.
If all three were to hit stops I would show -60 pips but actually be -20 compared to an all in postition.

Hopefully I'll judge better how things are going and won't miss out on to many pips. Losses will be less painful and I may even stack a couple extra on if things are going really well.
Be interesting.

For some reason I'm having psychological issues with this and I think it comes from greed/fear of missing out. Looking at it realistically I should be feeling MORE comfortable because I'm putting less on the line at first entry.
Not sure what's going on upstairs.

It'll be Me, My Mirror, and the Market.

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Postby prochargedmopar » Wed May 13, 2009 2:17 pm

Ok, not much time to ramble today.
39.5 \ 2 = +19.75 pips +5.97%
-411.61 + 57.56 = -354.05 till B/E on all accounts.
Used 1/2 position size today instead of 1/3.

Finger froze over on the first 2 entries and only took the half position.
3rd trade I went in with both after price came back to a little better than B/E and I saw a z-line setup on the H4 candle.

11006069 EUR/JPY 14 S 130.716 130.635 8.1 11.80 0.00 5/13/2009 09:17 5/13/2009 09:20
11005985 EUR/JPY 14 S 130.765 130.635 13 18.95 0.00 5/13/2009 09:15 5/13/2009 09:20
11005054 EUR/JPY 14 B 130.895 130.958 6.3 9.17 0.00 5/13/2009 09:00 5/13/2009 09:00
11003173 EUR/JPY 14 S 130.597 130.476 12.1 17.64 0.00 5/13/2009 08:33 5/13/2009 08:36
Total 56 39.5 57.56
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby razorboy » Wed May 13, 2009 2:43 pm

thanks for the kick in the ass.........

MightyOne wrote:There is an answer to every problem :shock: a slight adjustment that makes every thing golden.

razorboy wrote:I am only using half positions, so the impact on my account is about 25 pips

What I have found is that the volatility around the horizontal lines is quite high - regardless of whether i trade with H1or D1. The other thing I noticed about myself is that when I kill trades that are not immediately right, I find myself killing them too early and way overtrading, so I have had to change my definition of what I consider "immediately right" and limited the number of trades i take per hour to one (with two positions)

so I am ratcheting down the risk per position and limiting my trades

MightyOne wrote:"I know that MO often preaches about putting on 3 units from the start and then gradual exiting with profit - then using the profit to build your SL, but I found I kept stopping out on the initial 3 units" -Razorboy

I assume from your gravitation toward a 45 SL that you are getting stopped out often on your small stops.

It helps to understand why you are using the MM that you are using instead of playing with this or that until some thing seems to work.

When you are using a 45 SL and trading in the direction of the trend you are saying that the market did not and should not retrace 45 pips from the low when taking this short.

You are saying that a move greater than 45 pips is not a correction.

When you are using a 45 SL and trading the reversal then you are saying that the market: retraced 45 pips from the low, corrected less than 45 pips, and hit your horizontal to go long.

You are saying that a move greater than 45 pips is not a correction.

Now reread replacing the 45 SL with a 15 pip SL...

Notice how you arrive at the most powerful chart formation; the 1-2-3.




razorboy wrote:As far as scaling in goes, I have been using the horizontal lines as well - using the psych lines that are above and below the current price
-
In a situation where I want to go short,

Typically my first entry is a limit entry at a psych line with a 15 pip SL and my second is is a market with a 40 pip stop loss - total SL on the position is 55/2 = 27.5 pips, which I gradually reduce as price moves my way - meaning I start to see some good profit on my second position - usually by the time my second position is up to 25 points in profit, the SL on my first position would lock in 25 pips of profit and the SL on the second position would be moved to -25 from -42

If price hits my limit order (but not my market) and reverses, I will open up my SL to the 42 and enter a sell limit order with a 17 pip SL at the next higher psych line.

If price hits both my limit and market order and reverses - I kill the whole thing at the -27.5 - the worst damage I can do to my self. Given the dynamics of the market, I don't see how I can keep my initial risk below this level

I know that MO often preaches about putting on 3 units from the start and then gradual exiting with profit - then using the profit to build your SL, but I found I kept stopping out on the initial 3 units

I have found spreading things out like this typically gives me two shots to enter a trade, except where things go 100% wrong

prochargedmopar wrote:New Goal.
Break Even on all accounts combined.

MBTrading - +/- 0.0 Bal. $800.00
FXCM +$144.97 Bal. $994.47
FXDD -$525.30 Bal. 824.70
Total to B/E -$380.33

New technique will be applied.
Still risking 5% overall with a 20 pip stop but I will apply M.O.'s description of scaling in.
1/3 at a time instead of the 1/5.

I will be using a $2.40 full postition tomorrow so I will break it down to .80 each. When calculating Total pips gained I will have to divide by 3.
Example: 3 entries (if trigger finger doesn't freeze over, LOL) would be 60 pips with an actual 20 pip full postition gain compared to if I were to go All in at once.
If all three were to hit stops I would show -60 pips but actually be -20 compared to an all in postition.

Hopefully I'll judge better how things are going and won't miss out on to many pips. Losses will be less painful and I may even stack a couple extra on if things are going really well.
Be interesting.

For some reason I'm having psychological issues with this and I think it comes from greed/fear of missing out. Looking at it realistically I should be feeling MORE comfortable because I'm putting less on the line at first entry.
Not sure what's going on upstairs.

It'll be Me, My Mirror, and the Market.
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!



http://thejoshkerbelproject.com/

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Postby prochargedmopar » Wed May 13, 2009 10:50 pm

M.O. compass trading technique:
Wait for:

1. a daily or greater low or high

2. a minor pivot to form on the M1

3. a breakout of the M1 (3) on the HiLo compass.

If you wish to continue trading after this then:

1. Price must continue to rise from the low > a rate of one
pip per minute.

2. If it fails to do so then wait for a new daily or greater low or high.

3. Although you cannot place new trades you can hold onto your trade after price slows in anticipation of a larger move.

The HiLo numbers to the right of M1 (3) are profit targets (I have different settings than what is shown).

Ideally your targets will be common breakout entries used by longer term traders.

From now until the end of time people will be trading breakouts so you will always be able to liquidate your position no matter how large be it for a profit or a loss any where near a longer term breakout.

Link to chart:
http://i42.tinypic.com/rj13e0.gif
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby prochargedmopar » Thu May 14, 2009 4:42 pm

I didn't get to trade today as I had to work late.
So, I deposited $100 allowance money just to keep it growin.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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Postby Fxtraveller » Thu May 14, 2009 11:37 pm

Pro,
thanks for the comment on my topic and thank you for the idea of keeping a log on kreslik. this way one knows that others are watching and in turn this helps to stay disciplined with the system used.
regards.
FxT.

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Postby prochargedmopar » Fri May 15, 2009 2:30 pm

Ridiculous!!!

-354.05 + $14.99 = -339.06

I'm embarrassed to say and won't show..........40ish entries at 50% position size. (that's 20ish trades)
Hmmmm, let me see. 3 trades = 5.xx% increase in account and 40 trades = .00001% increase in account.(exaggeration)
DUUUUH!
Someone hit me on the head please!!!!!!!

Edit:(changed balance to match below earnings)
Shhhhh, +3.6 e/j long,
off to bed.
Oh, and +4.8 short......... oops,
gotta get some sleep.
#1BODY in direction of profit #2INCREASE lot size Obsessively
My Losses cause me Great Laughter!
Trading Bible here> therumpledone/the-ideas-that-i-trade-by-t3256/page1670

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